NautilusLog closes seed-financing round
Hamburg-based start-up NautilusLog has closed a €1 million seed financing round. In addition to lead investor NBank Capital, various business angels have invested in the Digital Logbook. Lower Saxony’s port cities are also set to benefit from this investment with a further branch in Lower Saxony NautilusLog already being planned.
NautilusLog is a ShipTech start-up that sees itself as a digital data engine in shipping.
As a pioneer, the start-up not only sets new standards in digitalization in shipping, but also defines new business models via the platform.
The funds from the seed financing round will be used to expand the team and platform for further services and enable the company to serve the rapidly growing global customer demand.
The investors in this funding round underline the confidence in NautilusLog and its long-term vision to unite all maritime stakeholders as well as partners.
The investors’ confidence builds on TecPier’s 2019 pre-seed funding round as well as NautilusLog’s rapid growth. “We recognized NautilusLog’s potential early on and see our investment as a confirmation of this”. Within just one year, the team had already more than 2,000 vessels signed up. In December 2020 alone, the launch of a new service attracted an additional 700 vessels to the platform. This is just the beginning, NautilusLog has an ambitious roadmap and plans to launch more services,” explains Tim Reinsch, Managing Partner at TecPier.
The NautilusLog application already revolutionizes shipping by combining and making the most of data and knowledge available. The app transforms previously unusable data into usable expertise, stakeholders into partners, and obstacles into opportunities for growth. New services are developed that not only digitize shipping, but above all focus on automation and sustainability. Customers benefit thanks to efficient processes and lower costs, giving them the opportunity to pass on the advantages to their own customers.
This potential was also immediately recognized by the investment company of the Lower Saxony state bank (NBank Capital) as the main investor. “Laws and regulations for shipping are becoming increasingly complex, but technical progress does not always develop in parallel. Stricter environmental conditions and international competition are creating enormous cost pressures. Therefore, the market is just asking for NautilusLog’s digital solutions,” explains Martin Ranić, investment manager at NBank Capital.
NautilusLog currently employs 14 people and will continue to grow strongly in the future. “We are excited to grow our team to be able to place new services faster into the market. To this end, we will also continue to invest in marketing and sales to be able to serve the rapidly growing global demand for our digital solutions,” commented Otto Klemke, Co-Founder and CEO of NautilusLog. “Through our investors, we not only gain capital, but strategic support for our international growth plans.”
In addition to NBank Capital as the main investor, another investment company as well as business angels have participated, some of whom have excellent networks in the international shipping industry and have already been mentoring Mr. Klemke since 2017.
Thus, NautilusLog is accompanied in various networks by well-known experts, companies and more and more interested market participants. The start-up is also contributing its innovations for shipping to a new ISO standard.